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Avnet to Sell Vandasoft Technology Holdings to PCCW Solutions

Avnet, Inc. (NYSE: AVT) announced today that it has reached an agreement to sell Vandasoft
Technology Holdings Limited, Avnet Vanda Group's banking application
business in China (Vanda China) to PCCW Solutions. Avnet will continue
to own and operate the Vanda Hong Kong and Macau system integration
business, providing systems integration services and solutions
incorporating hardware and software from major suppliers. Once the
transaction is complete, Vanda China will continue to deliver a rich
portfolio of banking software to clients as part of PCCW Solutions.
Vanda China has offices in 6 major cities and a service team covering
over 20 provinces across China.